Hope Engineering finished framing and concrete panels for the $11-million project at 9875-9885 Towne Centre Dr., designed by Pacific Cornerstone Architects. Bearing Construction is the general contractor. A biotech research company has signed a 10-year lease for the buildings, with plans to use them for lab and office space.
Diversified Properties, a San Diego County-based development firm, is building the dual two-story offices for Illumina Inc. The company also has expansion rights for an additional three-story, 81,000-sf facility. Illumina is a genetic-technology company that specializes in improving drugs.
Washington Capital Management is providing a $22-million construction loan and a $24-million permanent loan for the project. Rob Merkin and Nick Psyllos of CB Richard Ellis' San Diego office represented Diversified. Neil Fox of the same office acted on the tenant's behalf.
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